Caddo school budget takes another hit

4:25 PM,
Apr. 10, 2013

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Caddo schools will have to dip much further into its reserves to plug a hole left by sales tax declines and cuts in state funding.

With just more than two months left in the 2012-13 budget, Caddo received word it will see a $9.2 million cut in revenue, bringing its total cash on hand at the end of this year from $19.5 million to $10.3 million.

The cuts come from a nearly $7 million reduction in sales tax as oil and gas production waned and a $4.1 million reduction in funds from the state's Minimum Foundation Program as vouchers and charters came into Caddo. The district, however, was able to recoup some ...